DALBHARAT - FRESH IMPULSE - BULLISH - LONG TERM
Hi Folks,
Another stock with upcoming bullish momentum. Dalmia Bharat has seen a decent correctoin of more than 50% of the last impulse. After both time and price correction, RSI is cooled off on daily and weekly timeframes.
Recent week showed good accumulation in data with decent volumes. There is a breakout visible from the falling wedge with RSI also breaking out and making newer high.
Elliott wave analysis
1. Larger Wave 1 has an extended internal wave 3.
2. 5 wave structure is visible on the impulse.
3. 2-4 trendline has been violated and the subsequent larger wave 2 unfolded.
4. Correction in wave 2 had nested abc structure which resulted in larger WXY as marked on the chart.
5. Targets of larger wave 3 is marked with fib projections.
6. Invalidation level shall be low of wave 2.
7. Risk: Reward is very decent for long term hold.
Not a buy recommendation. Please do your own due diligence.
Another stock with upcoming bullish momentum. Dalmia Bharat has seen a decent correctoin of more than 50% of the last impulse. After both time and price correction, RSI is cooled off on daily and weekly timeframes.
Recent week showed good accumulation in data with decent volumes. There is a breakout visible from the falling wedge with RSI also breaking out and making newer high.
Elliott wave analysis
1. Larger Wave 1 has an extended internal wave 3.
2. 5 wave structure is visible on the impulse.
3. 2-4 trendline has been violated and the subsequent larger wave 2 unfolded.
4. Correction in wave 2 had nested abc structure which resulted in larger WXY as marked on the chart.
5. Targets of larger wave 3 is marked with fib projections.
6. Invalidation level shall be low of wave 2.
7. Risk: Reward is very decent for long term hold.
Not a buy recommendation. Please do your own due diligence.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.